Honeywell Chairman and CEO Dave Cote continues to be a leader in the drive for thoughtful government action to prevent the U.S. from going over the impending fiscal cliff. This week Cote has conducted a number of national media interviews to raise awareness for the potential impact to U.S. businesses and to continue to push for government leaders to work together for a resolution that will increase revenue, reform entitlement programs and reduce discretionary spending.
Cote is a member of the steering committee for the Campaign to Fix the Debt, a bi-partisan effort to build national support for a comprehensive debt reduction plan, and he serves as a member of the Business Roundtable, an association of U.S. chief executive officers that looks to ensure businesses play an active and effective role in the formation of public policy. On Wednesday, November 14, Cote also led a group of chief executive officers from some of America’s largest businesses in a meeting with President Obama to discuss how to best achieve a budget compromise that will protect against the fiscal cliff.
In an interview with Mad Money’s Jim Cramer, Cote said, “Democrats and Republications have to work together. That was true three years ago, it was true the day before the election, and it was true the day after the election. And, if they are going to work together, that means we have to come up with a $4 trillion plan over the next ten years. It comprises a simpler tax system that collects more, Medicare, Medicaid and entitlement programs have to get reformed – otherwise that’s just forestalling a crisis that’s going to come, and some discretionary spending cuts.”